Starbucks (NASDAQ:SBUX) Downgraded by BidaskClub

BidaskClub cut shares of Starbucks (NASDAQ:SBUX) from a strong-buy rating to a buy rating in a research report report published on Thursday, BidAskClub reports.

SBUX has been the subject of a number of other reports. Morgan Stanley increased their target price on Starbucks from $81.00 to $88.00 and gave the stock an equal weight rating in a report on Friday, July 26th. BTIG Research reissued a hold rating on shares of Starbucks in a report on Wednesday, September 4th. Cowen set a $93.00 target price on Starbucks and gave the stock a hold rating in a report on Friday, July 26th. OTR Global raised Starbucks to a positive rating in a report on Tuesday, July 16th. Finally, Robert W. Baird reissued a hold rating on shares of Starbucks in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $89.53.

Shares of SBUX opened at $90.48 on Thursday. Starbucks has a 1 year low of $54.10 and a 1 year high of $99.72. The stock has a 50 day simple moving average of $95.75 and a 200-day simple moving average of $82.79. The stock has a market cap of $110.20 billion, a PE ratio of 37.39, a PEG ratio of 2.51 and a beta of 0.56.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the prior year, the firm posted $0.62 EPS. Starbucks’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Starbucks will post 2.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Thursday, August 8th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.59%. Starbucks’s dividend payout ratio is 59.50%.

In related news, EVP Vivek C. Varma sold 21,128 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $95.86, for a total transaction of $2,025,330.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin R. Johnson sold 23,390 shares of Starbucks stock in a transaction on Monday, July 29th. The shares were sold at an average price of $98.32, for a total value of $2,299,704.80. The disclosure for this sale can be found here. Insiders have sold a total of 142,767 shares of company stock valued at $13,690,565 over the last ninety days. Insiders own 3.98% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP acquired a new stake in shares of Starbucks in the 2nd quarter valued at $1,813,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Starbucks in the 2nd quarter valued at $595,000. EP Wealth Advisors LLC increased its stake in shares of Starbucks by 32.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 60,052 shares of the coffee company’s stock valued at $5,034,000 after buying an additional 14,825 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Starbucks by 0.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 776,289 shares of the coffee company’s stock valued at $65,076,000 after buying an additional 2,900 shares during the period. Finally, Breiter Capital Management Inc. increased its stake in shares of Starbucks by 305.8% in the 2nd quarter. Breiter Capital Management Inc. now owns 15,495 shares of the coffee company’s stock valued at $1,299,000 after buying an additional 11,677 shares during the period. 71.20% of the stock is owned by institutional investors.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Analyst Recommendations for Starbucks (NASDAQ:SBUX)

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